UPDATE, March 28, 10:30 a.m. ET: An Amazon spokesperson said in an email to Mashable that the company has "no plans to offer a free streaming media service."

Amazon is reportedly considering a free streaming service that will feature video and music, a move that would put it squarely in competition for digital advertising dollars.

The offering, first reported by the Wall Street Journal, would be a new direction for Amazon, which had been bundling its media offerings with shipping discounts through Amazon Prime, which now costs users $99 per year.

As the WSJ notes, Amazon's detailed consumer data could make it an appealing destination for advertisers, but the paper's sources noted that the project was not guaranteed to make it to customers. Amazon has a track record of experimenting with a wide range of ideas, some crazier than others.

Media has been an avenue that Amazon has been slowly exploring, adding original series, talking with music labels and reportedly working on a set-top box (or possibly a dongle) that could stream content in a similar fashion to a Roku or Chromecast.

A streaming service would bring Amazon into the same competitive space as major media players like Comcast, which has been preparing its own streaming box, and Netflix. However, since it is free and supported by advertising, Amazon would also be entering the increasingly crowded field of digital advertising.

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